We will be reporting out a summary of that to our Board in the second quarter. In the fourth quarter we announced new leaders in Services and Supply Chain. It is all about team work and support from the company, the people and the whole department of human resource.
This growth is also reflected in key geographic markets, for example, revenue from Europe increased by There are no unified technology planning procedures; however, the objectives of technology plans are usually expressed as under: InGE became the first fortune company to go online and in the comprehensive portal GE.
Additionally, the action plan call for a average megawatts of qualifying renewable resources. We have the leading franchise in gas turbines, a strong position in wind, cutting-edge technology, digital expertise, grid and automation capability and a growing presence in storage with our GE Reservoir.
We are also reinstating rigorous talent management and development with a focus both on values and performance to ensure the strong differentiation and organization vitality. Last year, given the urgency and severity of our challenges, we launched directly and with brute force into cost-cutting mode and improving our cash controls during the second half of the year.
This call is being recorded and as such, all lines have been placed on mute to prevent any background noise. We have also not included future capital expenditures for system resilience.
And with that I will now turn it over to Jamie. HQ will be substantially smaller and will focus only on strategy, governance, capital allocation and talent. Significant top management involvement in IT planning must be established.
IT Strategy is very important ands plays a critical role in the formulation of the overall business strategy. We continue to explore incremental asset sale opportunities within GE Capital and will monitor and evaluate levels of capital based on the timing of asset sales and the potential WMC settlement.
The most significant change was driven by the new revenue accounting standard, which resulted in differences in the timing of revenue recognition versus previous accounting guidance. Both of these changes reflect our continuing effort to simplify our financial reporting and bring our metrics more in line with industry peers.
Now more than ever the expression and adherence to values is vital Support currently low, low in the future too. On the cost side, in an industry that clearly has excess capacity, we are aggressively moving to right size our footprint and base cost.
Military work during this time included the jet engine J79 which was a ground breaking technology. Transportation margins were up basis points driven by lower costs and a higher mix of services.
InGE scientists discovered Lexan polycarbonate resin which is a transparent plastic with extensive uses to this day. The revenues from its largest business segment, capital finance, increased by 1. In the company created the MRI system making it possible to image soft tissues within the human body.
We saw strength across the rest of the portfolio, particularly in Renewables, Aviation and Transportation.
We announced the sale of Value-Based Care last quarter and we expect it to close early third quarter. The gas markets continue to grow and LNG demand is strong. We have been working for several years to resolve our WMC-related exposures.
They never stop making the people feel that they are dedicated in giving the best support and high quality service. The oral argument regarding the appeal is scheduled for May 8 at the Ninth Circuit Court and we anticipate a decision will follow several months later.
In addition to these costs, government compliance may force the GE to modify its business models and objectives or affect its returns on investment by making existing practices more restricted. Good morning, everyone and thank you for joining us. Those slides are available on our website at investors.
It is important in terms of day-to-day operations but it is not felt that there are any major IT developments on the horizon that will fundamentally alter the nature of the business.
North American carload volume was up 2. The company is often considered the most successful conglomerate in the world. GE's STRATEGIC BUSINESS PLANNING GRID; BCG'S GROWTH SHARE MATRIX environment economical Economics economies of scale economy education effectiveness efficiency EIS elasticity of demand emersion electrics emotional bank area system functional managers functional organisation functional strategies functions GDSS GE.
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